Procyon Biopharma Inc. Message Board

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Gold/Mining/Energy : Procyon Biopharma Inc.

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To: suncasper who wrote (352)	10/20/2003 8:11:35 PM
From: thebeach	Read Replies (1) of 356

Reuters Procyon Biopharma jumps on U.S. anti-HIV patent Monday October 20, 12:00 pm ET MONTREAL, Oct 20 (Reuters) - Shares in Procyon Biopharma Inc. (Toronto:PBP.TO - News) jumped 19 percent after the Canadian biotech firm said it had been granted a U.S. patent covering protease inhibitors for HIV/AIDS treatment. Protease inhibitors are an important part of the drug-treatment therapy commonly used for AIDS patients. Shares in the Montreal-based company rose 16 Canadian cents or 19.05 percent to C$1.00 as more than two million shares changed hands on the Toronto Stock Exchange (News - Websites) . Procyon's stock value has doubled since the beginning of the year. The company said on Monday the U.S. patent covered compounds that have been shown to inhibit the activity of HIV aspartyl protease, an enzyme essential for the virus's maturation and infectivity. "The patent also includes the protease inhibitor PL-100, Procyon's drug candidate that has demonstrated activity against HIV strains containing multiple mutations in the protease gene," Procyon said in a statement. The company said research showed PL-100, a next-generation inhibitor, was active against HIV/AIDS strains that were resistant to current protease inhibitors. "As nearly three-quarters of HIV patients on drug therapy are experiencing drug or multi-drug resistance, and about 20 percent of the newly diagnosed patients are now presenting with drug resistance, new protease inhibitors are constantly needed," said Hans Mader, president and chief executive officer of Procyon Biopharma. Mader said PL-100 should benefit from an "extensive commercial life".

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